Automotive Service
For Sale
$400,000
Pending
440 Peek Street, Schenectady, NY 12308
Commercial Sale, Schenectady, NY
Property Size2,700 SF
Lot Size0.49 Acres
Days on Market263
Property Features for 440 Peek Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
Commercial
Parking
50
High school
Schenectady
Elementary school district
Schenectady
Middle school district
Schenectady
High school district
Schenectady
Directions
Erie to Maxon to Peek
Standard status
Pending
APN
39.50-1-8
Size
2,700 SF
Lot size
0.49 Acres
Taxes and HOA fees
Tax Annual Amount
4288
Utilities
Sewer type
Public Sewer
Water source
Public
Building Details
Year built
1972
Building materials
Block
Listing Agency:
Howard Hanna Capital Inc
(518) 371-4500
Listed By:
Joseph P Cardinale · License #10401290174
(518) 755-2064
Added: Jan 7
Changed: Sep 12
Last Checked: Sep 27 at 2:06PM
MLS# 202610229
Copyright © 2026 Global MLS, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Located at 440 Peek Street in Schenectady, this automotive-oriented commercial property includes a 2,700-square-foot building on a 0.49-acre parcel. Constructed in 1972 with block materials, the site combines enclosed space with yard area that can support vehicle fleet operations and related business activity.
The Commercial-zoned property is identified as suitable for automotive repair, light manufacturing, and service-oriented businesses. Public water and public sewer serve the site, providing established utility infrastructure for operations. Its configuration offers a practical base for an operator seeking building space together with usable outdoor area.
The Commercial-zoned property is identified as suitable for automotive repair, light manufacturing, and service-oriented businesses. Public water and public sewer serve the site, providing established utility infrastructure for operations. Its configuration offers a practical base for an operator seeking building space together with usable outdoor area.
Key Highlights
- 2,700‑square‑foot building on a 0.49‑acre parcel
- Commercial zoning
- Suitable for automotive repair, light manufacturing, and service‑oriented businesses
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$32,591
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
8.15%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$651,820
$651.8K
Cap Rate 7%
$465,586
$465.6K
Cap Rate 9%
$362,122
$362.1K
Market Conditions
NOI Build-Up for 2,700 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$48.6K $18.00/SF
− Vacancy
−$2.0K −$0.76/SF
EGI
$46.6K $17.24/SF
− OpEx
−$14.0K −$5.17/SF
NOI
$32.6K $12.07/SF
Area
Schenectady County, NY
Vacancy
4.20%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$651,820
Cap Rate 7%
$465,586
Cap Rate 9%
$362,122
Alternative Uses
Best Use
Retail
$465.6K
$407.4K – $543.2K
NOI $32,591 @ 7.0% cap · market cap 8.15%
Second Best
Industrial
$238.6K
$208.7K – $278.3K
NOI $16,699 @ 7.0% cap · market cap 4.17%
Theoretical Best
Office A
$808.1K
$707.1K – $942.8K
NOI $56,570 @ 7.0% cap · market cap 14.14%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
Yes
Fenced yard
Location Intelligence
Trade Area within ½ mile
771
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 12308, NY
15,285
Population
6,442
Households
2.4
Avg Household Size
31
Median Age
29%
College-Educated
89%
High-School Grad
2.3 sq mi
ZIP Area
6,646
Density / Sq Mi
$59,789
Median Household Income
$35,966
Median Earnings
$1,159
Median Rent
$180,100
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Industrial in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Auto shop - Commercially zoned property with a substantial yard and building suited to automotive, service, or light manufacturing uses.
Where is this auto shop located?
The property is located at 440 Peek Street Schenectady, NY.
What is the asking price?
The asking price for this property is $400,000.
What are key features of this property?
This property features: 2,700‑square‑foot building on a 0.49‑acre parcel; Commercial zoning; Suitable for automotive repair, light manufacturing, and service‑oriented businesses
